8 Feb 2010 15:24

Belvnesheconombank boosts loan portfolio 16.5% in 2009

MINSK. Feb 8 (Interfax) - Belvnesheconombank boosted its loan portfolio 16.5% to 1.254 trillion rubles in 2009, the bank told Interfax.

Problem assets - those exposed to credit risk, totaled 1.8% on January 1, 2010.

"Belvnesheconombank continues to provide financial and lending support to basic enterprises in the chemical and oil refining, radio electronics, transportation, electricity, construction, manufacturing and processing complex. The bank's biggest loan recipients are Mozyr Oil Refinery, Savushkin Produkt, Mogilevkhimvolokno, Grodno Tobacco Factory Neman and Gomel Meat Combine," a bank spokesman said.

Client deposits rose 30% and funds from banks increased 50%. Deposits from individuals increased 42.1% to 444.7 billion Belarusian rubles (Br). The resource base rose 45%.

Capital rose 68.3% to 798 billion Br and charter capital rose almost 90% to 605 billion Br.

Net profit in 2009 totaled 32 billion Br, 110% more than in 2008.

Russian Vnesheconombank (VEB) owns a 97.42% stake. Another 600 corporate entities and 43,000 individuals also have shares.

Belvnesheconombank was the 167th biggest bank in the CIS by assets and the sixth biggest among 31 banks listed on the Interfax 1000: CIS Bank rankings as of the end of the first half of 2009.

The official exchange rate on February 8 was 2,898 Br/$1.